These days, when we are bombarded with different information from different sources, businesses can find hidden gold buried in customer analytics data. Take the case of swimming pool builder Narellan Pools. When Narellan hired a marketing firm to develop a data-based sales strategy, company leaders soon discovered that, periodically, sales conversion rates would spike extraordinarily, only to return to normal after half a week.
Further analysis revealed that the boost in conversion rates correlated with periods when the temperature in any given locale was higher than the daily or monthly average for two or more consecutive days — and then if that heatwave lasted an additional four days.
The Australian pool builder then began to run an online marketing campaign during these peak periods, resulting in lead generation increases of 11 percent and sales surges of 23 percent, with an ROI of more than $40 for each dollar that was spent.
Narellan’s results have been replicated by organizations of all sizes across a wide variety of industries, with Gallup indicating companies that apply customer behavioral insights outperform their counterparts by 85 percent in sales growth and 25 percent in gross margins.
Is your company looking to experience similar results? Here are three ways to start harnessing the power of customer analytics that will help grow your company.
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